The Australian Prudential Regulation Authority (APRA) today released its Quarterly Life Insurance Performance Statistics publication for the December 2015 quarter.
The Quarterly Life Insurance Performance Statistics publication provides industry aggregate summaries of financial performance, financial position, capital adequacy and key ratios in a time series.
Key performance statistics for the life insurance industry in the year ended 31 December 2015:
| December 2014 | December 2015 | Change | |
|---|---|---|---|
| Net premium income | $62.3 billion | $58.1 billion | -6.7% |
| Net policy payments | $61.2 billion | $52.6 billion | -14.0% |
| Net profit after tax | $2.4 billion | $3.2 billion | +30.9% |
| Total assets | $291.1 billion | $298.8 billion | +2.7% |
Key ratios for the life insurance industry in the year ended 31 December 2015:
| December 2014 | December 2015 | Change | |
|---|---|---|---|
| Return on net assets | 10.9% | 13.5% | +2.6pp |
| Prescribed capital amount coverage ratio | 1.80x | 1.87x | +0.07x |
Refer to the December 2015 Quarterly Life Insurance Performance Statistics publication.